Economic Impact

Rompetrol Rafinare is the third largest taxpayer in Romania, paying over 1.65 billion dollars throughout the previous year.

The value includes all taxes owed and paid by Rompetrol Rafinare to the Romanian state, including the solidarity tax for 2022, worth 126 million dollars, paid in June 2023, but also excise taxes, VAT, salary contributions and other taxes.

Thus, the total amount paid by the company to the state budget amounts to approximately USD 7.6 billion, for the period 2019-2023.

The on-going development of the operations in the two refineries has positioned Rompetrol Rafinare as the largest exporter of oil products and the third largest exporter in Romania.

The company has been ranked among the top local importers for many years, and contributed to the import-export balance of Romania, importing crude oil and exporting high-value refined products, which account for more than 4% of the total exports of the entire Romanian processing industry.

Petromidia Refinery is currently the largest local facility in the industry, with a capacity in excess of 5 million tons/year, and one of the most modern refineries in South-Eastern Europe. The only petrochemical division in Romania that supplies raw materials for many local economic sectors is found operating also on the Petromidia platform.

In 2008, the offshore marine terminal of Petromidia refinery was commissioned at sea, 8.6 km off the Black Sea coast. It supports supply of crude oil with a technical transfer capacity of 24 million tons.

Vega Refinery is the longest standing local refinery, with over 115 years of operation. It has evolved from a traditional refinery to become a vendor of niche products, solvents, and special products applied in a wide range of industries. It is the sole producer of polymer modified bitumen and N-Hexane in Romania, and a major exporter of solvents in the Black Sea region.

The petrochemical division of Rompetrol Rafinare is the sole producer of polymers in Romania.

It covers more than half of Romania’s domestic consumption of petrochemicals. The factors that have greatly contributed to the development of petrochemistry have been a good integration with the Petromidia refinery, which supplies the entire amount of polypropylene, the investments made in modernization of the plants, and especially the range diversification so as to cover for the latest applications.

The company is held mainly by KMG International (54.63%; both directly and indirectly), and the Romanian State through the Ministry of Energy (44.69%).